Coal India produced approximately 57.6 million tons of coal last month, which marks a month-on-month decline of 25.9 million tons (-31%) but a year-on-year increase of 4.1 million tons (8%). As we have discussed in Commodore's Weekly Dry Bulk Reports, Coal India’s production peaks in March of every year and a month-on-month plummet in April is normal. More noteworthy is that production has now increased on a year-on-year basis during twenty-three of the last twenty-four months.
Offtake (amount sent to customers) totaled 62.4 million tons last month, which marks a month-on-month decline of 1.8 million tons (-3%) but a year-on-year increase of 4.9 million tons (9%). Offtake has now increased on a year-on-year basis during twenty-five of the last twenty-six months, and last month also saw offtake finally exceeded production. The previous five months all saw offtake fall short of production.
Coal India’s stockpiles now stand at approximately 65 million tons. Also of note is that coal stockpiles at the nation's power plants now stand at pproximately 36.5 million tons.
